Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 2838 [2014-00734]
Download as PDF
<![CDATA[
2838
Federal Register / Vol. 79, No. 11 / Thursday, January 16, 2014 / Notices
announcement, the award process, or
the determination of the award, which
will be decided at the sole discretion of
the Chairman, based upon the
recommendation of the MEC.
Additional information:
The award winner may not claim
FMC or MEC endorsement. This award
does not constitute an endorsement of a
specific product, program or practice by
the FMC, MEC, or the U.S. Federal
Government.
For more information about the FMC
and the Chairman’s Earth Day Award,
please contact Mary Hoang at 202–521–
5733 or visit: https://www.fmc.gov/news/
maritime_environmental_issues.aspx.
Liberty Street, New York, New York
10045–0001:
1. The Adirondack Trust Company
Employee Stock Ownership Trust,
Saratoga Springs, New York, to acquire
an additional 50 shares of 473 Broadway
Holding Corporation, and 2,000
additional voting shares of The
Adirondack Trust Company, both in
Saratoga Springs, New York.
Board of Governors of the Federal Reserve
System, January 13, 2014.
Michael J. Lewandowski,
Associate Secretary of the Board.
[FR Doc. 2014–00734 Filed 1–15–14; 8:45 am]
BILLING CODE 6210–01–P
Rachel Dickon,
Assistant Secretary.
FEDERAL RESERVE SYSTEM
[FR Doc. 2014–00703 Filed 1–15–14; 8:45 am]
[Docket No. OP–1478]
BILLING CODE 6730–01–P
Policy on Payment System Risk
ehiers on DSK2VPTVN1PROD with NOTICES
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
The companies listed in this notice
have applied to the Board for approval,
pursuant to the Bank Holding Company
Act of 1956 (12 U.S.C. 1841 et seq.)
(BHC Act), Regulation Y (12 CFR part
225), and all other applicable statutes
and regulations to become a bank
holding company and/or to acquire the
assets or the ownership of, control of, or
the power to vote shares of a bank or
bank holding company and all of the
banks and nonbanking companies
owned by the bank holding company,
including the companies listed below.
The applications listed below, as well
as other related filings required by the
Board, are available for immediate
inspection at the Federal Reserve Bank
indicated. The applications will also be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the standards enumerated in
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of
a nonbanking company, the review also
includes whether the acquisition of the
nonbanking company complies with the
standards in section 4 of the BHC Act
(12 U.S.C. 1843). Unless otherwise
noted, nonbanking activities will be
conducted throughout the United States.
Unless otherwise noted, comments
regarding each of these applications
must be received at the Reserve Bank
indicated or the offices of the Board of
Governors not later than February 10,
2014.
A. Federal Reserve Bank of New York
(Ivan Hurwitz, Vice President) 33
VerDate Mar<15>2010
14:55 Jan 15, 2014
Jkt 232001
Board of Governors of the
Federal Reserve System.
ACTION: Policy statement; request for
comment.
AGENCY:
FEDERAL RESERVE SYSTEM
The Board of Governors of the
Federal Reserve System (Board) is
proposing to revise part I of its Federal
Reserve Policy on Payment System Risk
(PSR policy), which sets forth the
Board’s views, and related principles
and minimum standards, regarding the
management of risk in payment,
clearing, and settlement systems. These
revisions are proposed in light of the
Principles for Financial Market
Infrastructures (PFMI), the international
risk-management standards for financial
market infrastructures (FMIs) published
in 2012.1 These revisions are also
proposed in light of the enhanced
supervisory framework for designated
financial market utilities as set forth in
Title VIII of the Dodd-Frank Wall Street
Reform and Consumer Protection Act of
2010 (‘‘Dodd-Frank Act’’ or ‘‘Act’’). In
particular, certain revisions are
intended to clarify that designated
financial market utilities for which the
Board is the Supervisory Agency under
Title VIII of the Act are required to
comply with Regulation HH and not the
risk-management or transparency
expectations set out in the policy.
The Board is proposing to (1) revise
the Board’s existing minimum riskmanagement standards in the PSR
policy to reflect the PFMI, which now
represents the relevant set of
international standards; (2) include all
SUMMARY:
1 An FMI is a multilateral system among
participating institutions, including the operator of
the system, used for the purposes of clearing,
settling, or recording payments, securities,
derivatives, or other financial transactions.
PO 00000
Frm 00026
Fmt 4703
Sfmt 4703
central securities depositories, securities
settlement systems, and central
counterparties in the scope of part I of
the PSR policy; (3) introduce trade
repositories to the scope of part I of the
PSR policy; (4) clarify the Board’s riskmanagement expectations for six
mutually exclusive categories of FMI;
(5) replace the existing self-assessment
framework with a broader disclosure
expectation; and (6) recognize
responsibility E from the PFMI, in
addition to other relevant international
guidance, as the basis for cooperation
with other authorities in regulating,
supervising, and overseeing FMIs. The
Board also proposes several conforming
and technical changes to the
introduction, the discussion of risks in
payment, clearing, and settlement
systems, and part I of the PSR policy.
DATES: Comments are due on or before
March 31, 2014.
ADDRESSES: You may submit comments,
identified by Docket No. OP–1478, by
any of the following methods:
• Agency Web site: https://
www.federalreserve.gov. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: regs.comments@
federalreserve.gov. Include the docket
number in the subject line of message.
• Facsimile: (202) 452–3819 or (202)
452–3102.
• Mail: Robert deV. Frierson,
Secretary, Board of Governors of the
Federal Reserve System, 20th Street and
Constitution Avenue NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at https://
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
unless modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper form in Room MP–500 of the
Board’s Martin Building (20th and C
Streets NW) between 9 a.m. and 5 p.m.
on weekdays.
FOR FURTHER INFORMATION CONTACT:
Jennifer A. Lucier, Deputy Associate
Director (202) 872–7581, Emily A.
Caron, Senior Financial Services
Analyst (202) 452–5261, or Kathy C.
Wang, Senior Financial Services
Analyst (202) 872–4991, Division of
Reserve Bank Operations and Payment
Systems; Christopher W. Clubb, Special
Counsel (202) 452–3904 or Kara L.
Handzlik, Counsel (202) 452–3852,
E:\FR\FM\16JAN1.SGM
16JAN1
]]>Agencies
[Federal Register Volume 79, Number 11 (Thursday, January 16, 2014)]
[Notices]
[Page 2838]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-00734]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and Mergers of Bank Holding
Companies
The companies listed in this notice have applied to the Board for
approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C.
1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other
applicable statutes and regulations to become a bank holding company
and/or to acquire the assets or the ownership of, control of, or the
power to vote shares of a bank or bank holding company and all of the
banks and nonbanking companies owned by the bank holding company,
including the companies listed below.
The applications listed below, as well as other related filings
required by the Board, are available for immediate inspection at the
Federal Reserve Bank indicated. The applications will also be available
for inspection at the offices of the Board of Governors. Interested
persons may express their views in writing on the standards enumerated
in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the
acquisition of a nonbanking company, the review also includes whether
the acquisition of the nonbanking company complies with the standards
in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted,
nonbanking activities will be conducted throughout the United States.
Unless otherwise noted, comments regarding each of these
applications must be received at the Reserve Bank indicated or the
offices of the Board of Governors not later than February 10, 2014.
A. Federal Reserve Bank of New York (Ivan Hurwitz, Vice President)
33 Liberty Street, New York, New York 10045-0001:
1. The Adirondack Trust Company Employee Stock Ownership Trust,
Saratoga Springs, New York, to acquire an additional 50 shares of 473
Broadway Holding Corporation, and 2,000 additional voting shares of The
Adirondack Trust Company, both in Saratoga Springs, New York.
Board of Governors of the Federal Reserve System, January 13,
2014.
Michael J. Lewandowski,
Associate Secretary of the Board.
[FR Doc. 2014-00734 Filed 1-15-14; 8:45 am]
BILLING CODE 6210-01-P
